Vietnam Filler Masterbatch Market by Carrier Polymer, Application, End-user, Region, Competition Forecast and Opportunities, 2028F

Report
77 Pages
July 2023
Region: Vietnam
TechSci Research
ID: 5849421

The Vietnam Filler Masterbatch market is anticipated to increase at a notable rate in the forecast period 2024-28. Growing demand from various industries such as packaging, building & construction, consumer goods, automotive, agriculture, and others are pushing the demand for filler masterbatch. More than 380 million tons of plastic are produced every year worldwide in packaging, holding the largest market share of almost 36%, where the need for filler masterbatch is high. Filler masterbatches are classified based on their capabilities. For applications directly exposed to sunlight, UV masterbatches are employed, which are packed with UV stabilizers. Filler masterbatch application products include greenhouse films, garden furniture, and irrigation pipes. Antioxidants masterbatch is used to guard against the breakdown of polymers at high temperatures, and white-type masterbatches are employed to impart a final white brightness without any blue tone.

While recycling the packaging material, the need for filler masterbatch in plastic material is very high. Thus, the demand for masterbatch is expected to rise to provide additional characteristics to raw materials while recycling. Furthermore, the advantage of investment incentives in land, energy, cheap labor to save costs, taxes, and raw material prices are creating a positive trend for market growth. Participation in different free trade agreements and foreign policies attracted foreign companies to take advantage and invest in Vietnam is a factor expected to propel the demand for filler masterbatch from various industries for the production of the product.

Increasing Demand from Industries for Packaging Purposes is Driving the Market Growth

Packaging is one of the major considerations that consumers observe before buying any product. More appealing and informative packaging means more chances to be noticed or sold in the market. Filler masterbatch is extensively used in the manufacturing of thin films to thick sheets by increasing chemical characteristics and enhancing production efficiency. Due to its characteristics, filler masterbatch supports firms to lessen production costs and improve product coating quality, used in LDPE, LLDPE, HDPE, and PP as compared to substitutes. Shopping bags, wrapping paper, roll bags, rubbish bags, etc., are a few examples of the packaging industry's finished goods. Because each product has various properties and technical needs, they all contain the filler masterbatch ingredient but are used in different ways depending on the product requirement. Hence, for the production of different products that are used by different industries, the demand for filler masterbatch is expected to rise in the region.

Rising Demand from End User Industries is Propelling the Market Growth

Polypropylene is being broadly used in consumer goods, which has contributed to an increase in filler masterbatch product demand. Polypropylene can be used in the production of a variety of products related to construction and building, like PVC gates & windows, tarpaulin sheets, and others with different advantages and properties, which include antimicrobial and antibacterial capabilities. Environmental concerns are causing polypropylene manufacturers to change their emphasis from synthetic to bio-based, which is expected to boost the growth of the masterbatch filler market throughout the projection period. Apart from these, a product of different automotive parts like bumpers, dashboards, side trims, headlight back covers, rear and side view mirrors, indicators, radiator fans, internal components, engine components, car batteries, wire, and cable require filler adhesive to enhance the product properties. In the forecasted period, the annual growth of consumer goods products is expected to rise by 8.1% worldwide. Hence, it is anticipated that demand for filler masterbatch is expected to grow in the anticipated year due to increasing manufacturing activities in the region.

Ongoing R&D is Driving the Market Growth

The progress of polymers & filler masterbatch has relied strongly on research and development, from the choice of materials and technologies to the improvement of ergonomy. Recent innovations in masterbatch have reduced weight while maintaining identical qualities and significantly impacting resource saving and energy effectively. As a reference, a 500 mL plastic bottle weighed 24g in 1,990 and 9.5g in 2013, a decrease of 14.5g per bottle and a weight reduction of 60% over a period of 25 years. Plastic filler masterbatch tends to be multipurpose as new technology advances. The void between the filler and the new additives employed in the creation of the filler masterbatch gives the products superior or unique performances.

Market Segmentation

Vietnam filler masterbatch market is segmented based on carrier polymer, application, and end user.

Based on carrier polymer, the market is divided into polyethylene and polypropylene. Based on application, the market is divided into injection & blow molding, films & sheets, and tapes. Based on end-user, the market is divided into packaging, building & construction, consumer goods, automotive & transportation, agriculture, and others.

Market Players

Europlast S.A., Megaplast, S.A. De C.V., AN TIEN INDUSTRIES, VinaColour, Polyfill LLC, VINARES Vietnam Company Limited, Ecoplast Ltd., and TLD Vietnam are some of the key players operating in the Vietnam filler masterbatch market.

Report Scope

In this report, Vietnam filler masterbatch market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below: